post office mutual funds
Andhra Pradesh ~ India ~ International ~ City ~ Entertainment ~ Business ~ Sports ~ Technology ~ Health ~ Features
Districts ~ State Politics ~ District Officials ~ Tollywood ~ Telangana News Online ~ Praja Rajyam Online
Home / State News / 2009 / November 2009 / November 19, 2009
Post Offices to sell mutual funds
RSS / Print / Comments

Post Office

Post Offices to sell mutual funds
India Post signs MoU with ICICI Prudential Life Insurance for partnership

ICICI Prudential ties up with Postal department
To strengthen service infrastructure in rural people

Postal Department to launch anywhere banking
Department in the process of developing necessary software

Post Offices to sell Ambica Darbar Bathi
Ambica and Postal Department signs MoU

Postal staff arrested
On graft charges

Top News

144 Section in Hyderabad ahead of Ayodhya verdict

All India Bar Examination mandatory for law graduates to practice in India

It's desirable that China frees Nobel Peace Prize winner Liu:Japanese PM

Craven's horror flicks 'were inspired by real stories'

RBI will intervene if inflows turn lumpy: Subbarao

Enforcement Directorate issues 'Look Out Circular' against Lalit Modi

Now, laser technology that destroys tumours using heat

Waist size, not BMI can foretell cardiovascular risk in children

Post Offices to sell mutual funds

India Post signs MoU with ICICI Prudential Life Insurance for partnership

ICICI Prudential Life Insurance has tied up with India Post to enable consumers buy its products from its extensive network of post offices in the State. ICICI Prudential Life Insurance senior Vice President Anup Rao and Chief Post Master General, AP Circle, KV Sundar Rajan signed a memorandum of understanding on their partnership on Thursday. Anup Rao said that as 69 percent of the total households were located in rural areas, their savings potential could be taped by reaching them through 16,159 post office in Andhra Pradesh.

The partnership with India Post would enable ICICI customers buy products like insurance, wealth creation, children's education, pensions, protection and health plans. The customers could pay their premium through post offices. The e-payment facility was available in 529 post offices for premium payments. The private insurance sector, whose market share went up from about two percent to 57 percent in the last seven years would grow further by assessing rural consumers through the network, he said.

Chief Post Master General Sundar Rajan said India Post also offered its own life insurance scheme with low premium but they did not have products offered by ICICI Prudential like pensions, ULIP which were popular in the urban market. India Post tied up with many mutual fund players and their total mutual fund collection in the State on their behalf was Rs.226.95 crore and 4 percent of it was its commission and in other products it was 2 to 2.5 percent.

Andhra News

Link to this page

Suggested pages for your additional reading on Facebook

© 2000-2017 All Rights Reserved and are of their respective owners.
Disclaimer, Terms of Service & Privacy Policy | Contact Us